FAQs

No. Financial institutions are obliged by law to retain suspected counterfeit banknotes and to submit them to the Central Bank of Ireland for verification. A receipt for the note will be provided to the customer but no value can be given at the time of lodgement. In the event that the Central Bank of Ireland deems the note to be genuine, value will then be given to the customer. No value is given for a counterfeit note.

Yes. If you are offered a poor quality note in change you are entitled to ask for a replacement, within reason. Refusal by the public of poor quality notes will eventually improve the overall quality of the banknotes in circulation in Ireland.

Individuals, businesses and commercial banks are under no obligation to accept collector coins as payment for goods or services. Face value may be redeemed from the Central Bank, but these coins are likely to be worth substantially more in their collectable form than their nominal value.